Indiana § 5-1.2-9-26 Power to issue bonds; cumulative term of refunding bonds

Indiana Statutes

§ 5-1.2-9-26 — Power to issue bonds; cumulative term of refunding bonds

Indiana § 5-1.2-9-26

Title 5STATE AND LOCAL ADMINISTRATION

Art. 1.2INDIANA FINANCE AUTHORITY

Ch. 9Economic Development Projects

This text of Indiana § 5-1.2-9-26 (Power to issue bonds; cumulative term of refunding bonds) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 5-1.2-9-26 (2026).

Text

(a)The authority has the power to issue, from time to time, bonds to renew or to pay bonds, including the interest on these bonds, if these bonds have been issued to finance projects that constitute economic development projects, and whenever the authority considers refunding expedient, to refund any bonds by the issuance of new bonds, whether the bonds to be refunded have or have not matured, and to issue bonds partly to refund outstanding bonds and partly for any other of its corporate purposes as long as the bonds to be refunded were issued to finance projects that constitute economic development projects.

(b)With respect to any bonds issued under this chapter, the cumulative terms of refunding bonds may not exceed fifty (50) years.

(c)Refunding bonds issued under this section are pa

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(a) The authority has the power to issue, from
time to time, bonds to renew or to pay bonds, including the interest on
these bonds, if these bonds have been issued to finance projects that
constitute economic development projects, and whenever the authority
considers refunding expedient, to refund any bonds by the issuance of
new bonds, whether the bonds to be refunded have or have not
matured, and to issue bonds partly to refund outstanding bonds and
partly for any other of its corporate purposes as long as the bonds to be
refunded were issued to finance projects that constitute economic
development projects.
(b) With respect to any bonds issued under this chapter, the
cumulative terms of refunding bonds may not exceed fifty (50) years.
(c) Refunding bonds issued under this section are payable solely
from revenues and receipts derived from:
(1) financing agreements with the users or developers of the
facilities originally financed by the outstanding bonds, or related
persons; or
(2) payments made under guaranty agreements by developers,
users, or related persons.
The financing agreements or guaranties may be new financing
agreements or guaranties or amendments of the original financing
agreements or guaranties.
(d) Sections 13 and 15 of this chapter do not apply to the issuance
of refunding bonds under this section.